Ritholtz Wealth Management Acquires 5,588 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Ritholtz Wealth Management boosted its stake in InterDigital, Inc. (NASDAQ:IDCC) by 59.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,020 shares of the Wireless communications provider’s stock after buying an additional 5,588 shares during the period. Ritholtz Wealth Management’s holdings in InterDigital were worth $1,630,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of InterDigital during the 2nd quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $68,000. Parkside Financial Bank & Trust boosted its position in shares of InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after acquiring an additional 114 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of InterDigital by 12.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after acquiring an additional 143 shares in the last quarter. Finally, Cohen Klingenstein LLC acquired a new stake in shares of InterDigital during the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $106.46 on Friday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $106.23 and a 200 day simple moving average of $97.45. InterDigital, Inc. has a one year low of $66.82 and a one year high of $119.86.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The firm had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. Research analysts predict that InterDigital, Inc. will post 7.13 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. InterDigital’s payout ratio is 21.33%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $103.91, for a total transaction of $67,541.50. Following the transaction, the chief technology officer now directly owns 56,487 shares of the company’s stock, valued at approximately $5,869,564.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $103.91, for a total value of $67,541.50. Following the completion of the sale, the chief technology officer now directly owns 56,487 shares of the company’s stock, valued at $5,869,564.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 336 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total value of $36,200.64. Following the completion of the sale, the insider now directly owns 18,267 shares of the company’s stock, valued at $1,968,086.58. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.